{"id":667024,"date":"2024-12-25T20:30:30","date_gmt":"2024-12-25T20:30:30","guid":{"rendered":"https:\/\/ktsl888.com\/?p=667024"},"modified":"2024-12-25T11:10:16","modified_gmt":"2024-12-25T11:10:16","slug":"deep-correction-cardano-price","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/dogecoin\/deep-correction-cardano-price\/","title":{"rendered":"Possible Deep Correction Could Push Cardano Price To $0.43, Here’s How"},"content":{"rendered":"

The Cardano price action has <\/span>continued to stall below the $1 mark<\/span><\/a> in light of corrections in the past seven days. This correction, which played out across the entire crypto industry, saw Cardano break below the $1 mark again on December 18%.\u00a0<\/span><\/p>\n

Although the broader trend suggests a <\/span>possible move on the weekly timeframe <\/span><\/a>towards a new all-time high (ATH), <\/span>recent technical analysis<\/span><\/a> on TradingView has opened up the possibility for a continued correction towards $0.43 before another strong upward move.<\/span><\/p>\n

Current Price Movements Highlight Resistance And Cooling Period<\/h2>\n

According to technical analysis of the <\/span>Cardano (ADA) price action<\/span><\/a> on the weekly candlestick timeframe, the cryptocurrency has encountered notable resistance around the $1.2046 mark. This resistance has emerged after <\/span>Cardano’s remarkable 205% surge<\/span><\/a> from $0.4322 in late October to $1.32 in late November.\u00a0<\/span><\/p>\n

Related Reading: XRP Price Prediction: Wave 2 And 5 Targets Put XRP At $7 And $13<\/a><\/div>\n

Interestingly, this remarkable price surge saw Cardano form significant lows that serve as support levels for the price. Furthermore, the rally ended up with Cardano entering the overbought zone on the Relative Strength Index (RSI) indicator. The rally culminated in the Cardano price peaking at 82.87 on the RSI, but it has since retraced into a cooling\/corrective period where buying pressure is consolidating at the time of writing.<\/span><\/p>\n

Cardano’s consolidation has opened up outlooks as to its next direction, with substantial buying volumes observed in recent trading sessions.<\/span><\/p>\n

Deep Correction Could Test Critical Support At $0.43<\/h2>\n

While the long-term outlook remains bullish, the analysis highlights the scenario of a deep correction that could send the Cardano price falling further in the short term. With this in mind, the analyst points to support levels that ADA may revisit in the event of a deeper correction. The first key level at $0.7683 has already proven its significance, acting as a reactionary zone in recent price movements.<\/span><\/p>\n

Related Reading: Is Altcoin Season Here Already? VanEck Answers As Bitcoin Price Struggles Below $100,000<\/a><\/div>\n

Below this, $0.4322 stands as the ultimate support for the current bullish leg. What this means is that ADA has to hold above the $0.43 support level in order for a bullish trajectory to remain valid. Failure to hold above $0.43 is likely to cascade into more price declines at this point and a change into bearish outlook.<\/span><\/p>\n

The analyst also identifies $0.3166 and $0.2427 as primary supports. These levels are Cardano’s lowest support during the previous bear market and are considered less likely to be breached in case of a longer-term decline.<\/span><\/p>\n

Despite the potential for a deep correction, Cardano\u2019s <\/span>recent market behavior and buying trends <\/span><\/a>suggest a <\/span>promising long-term outlook<\/span><\/a>. At the time of writing, ADA is trading at $0.912 and has increased by 2% in the past 24 hours. Once the current resistance at $1.2046 is cleared, ADA is well-positioned to challenge its $3.09 all-time high and possibly establish new highs in the current cycle.<\/span><\/p>\n

\"Cardano
ADA price still below $1 | Source: ADAUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Cardano price action has continued to stall below the $1 mark in light of corrections in the past seven days. This correction, which played out across the entire crypto industry, saw Cardano break below the $1 mark again on December 18%.\u00a0 Although the broader trend suggests a possible move on the weekly timeframe towards a new all-time high (ATH), recent technical analysis on TradingView has opened up the possibility for a continued correction towards $0.43 before another strong upward move. Current Price Movements Highlight Resistance And Cooling Period According to technical analysis of the Cardano (ADA) price action on the weekly candlestick timeframe, the cryptocurrency has encountered notable resistance around the $1.2046 mark. This resistance has emerged after Cardano’s remarkable 205% surge from $0.4322 in late October to $1.32 in late November.\u00a0 Related Reading: XRP Price Prediction: Wave 2 And 5 Targets Put XRP At $7 And $13 Interestingly, this remarkable price surge saw Cardano form significant lows that serve as support levels for the price. Furthermore, the rally ended up with Cardano entering the overbought zone on the Relative Strength Index (RSI) indicator. The rally culminated in the Cardano price peaking at 82.87 on the RSI, but it has since retraced into a cooling\/corrective period where buying pressure is consolidating at the time of writing. Cardano’s consolidation has opened up outlooks as to its next direction, with substantial buying volumes observed in recent trading sessions. Deep Correction Could Test Critical Support At $0.43 While the long-term outlook remains bullish, the analysis highlights the scenario of a deep correction that could send the Cardano price falling further in the short term. With this in mind, the analyst points to support levels that ADA may revisit in the event of a deeper correction. The first key level at $0.7683 has already proven its significance, acting as a reactionary zone in recent price movements. Related Reading: Is Altcoin Season Here Already? VanEck Answers As Bitcoin Price Struggles Below $100,000 Below this, $0.4322 stands as the ultimate support for the current bullish leg. What this means is that ADA has to hold above the $0.43 support level in order for a bullish trajectory to remain valid. Failure to hold above $0.43 is likely to cascade into more price declines at this point and a change into bearish outlook. The analyst also identifies $0.3166 and $0.2427 as primary supports. These levels are Cardano’s lowest support during the previous bear market and are considered less likely to be breached in case of a longer-term decline. Despite the potential for a deep correction, Cardano\u2019s recent market behavior and buying trends suggest a promising long-term outlook. At the time of writing, ADA is trading at $0.912 and has increased by 2% in the past 24 hours. Once the current resistance at $1.2046 is cleared, ADA is well-positioned to challenge its $3.09 all-time high and possibly establish new highs in the current cycle. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":602719,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[12333,89347,84005,14643,79508,167,12332,89230,12329,6664,26263,14690],"class_list":["post-667024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-ada","tag-ada-news","tag-ada-price","tag-adausd","tag-adausdt","tag-analyst","tag-cardano","tag-cardano-news","tag-cardano-price","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nPossible Deep Correction Could Push Cardano Price To $0.43, Here's How<\/title>\n<meta name=\"description\" content=\"The Cardano price action has continued to stall below the $1 mark in light of corrections in the past seven days.\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Possible Deep Correction Could Push Cardano Price To $0.43, Here’s How","url":"http:\/\/ktsl888.com\/news\/dogecoin\/deep-correction-cardano-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/dogecoin\/deep-correction-cardano-price\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/04\/cardano-Small.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/04\/cardano-Small.jpeg?fit=320%2C240"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada news","ada price","adausd","adausdt","analyst","cardano","cardano news","cardano price","crypto","crypto analyst","crypto news"],"dateCreated":"2024-12-25T20:30:30Z","datePublished":"2024-12-25T20:30:30Z","dateModified":"2024-12-25T20:30:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Possible Deep Correction Could Push Cardano Price To $0.43, Here’s How\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/dogecoin\\\/deep-correction-cardano-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/dogecoin\\\/deep-correction-cardano-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/cardano-Small.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/cardano-Small.jpeg?fit=320%2C240\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada news\",\"ada price\",\"adausd\",\"adausdt\",\"analyst\",\"cardano\",\"cardano news\",\"cardano price\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-12-25T20:30:30Z\",\"datePublished\":\"2024-12-25T20:30:30Z\",\"dateModified\":\"2024-12-25T20:30:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/04\/cardano-Small.jpeg?fit=320%2C240","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/667024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=667024"}],"version-history":[{"count":1,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/667024\/revisions"}],"predecessor-version":[{"id":667039,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/667024\/revisions\/667039"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/602719"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=667024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=667024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=667024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}